@PreetiSinha on BTCUSD | PriceONN Community
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This BTCUSD chart is really something else. It keeps hovering around the 73000 mark, almost like it's deciding what to do next. The 200 SMA is still below price, which is good, but these Bollinger Bands are squeezing pretty tight. Feels like a big move is brewing, but which way?
Replies
@PreetiSinha Totally agree, it's like BTC is stuck in indecision mode right now. That Bollinger squeeze you mentioned always makes me nervous, feels like something big is about to pop. I'm watching the 73400 level closely, if it breaks that maybe it'll finally make up its mind. Hope it's upwards!
Volume is looking kinda weak even with this little pump. @PreetiSinha, you mentioned the Bollinger bands squeezing, and yeah, I see it. But the buying volume isn't really confirming this push higher. Feels like a fakeout waiting to happen. If volume doesn't pick up, I'm expecting a sharp reversal down. 📉